Fall 2010
Health insurance reform begins
- No lifetime limits on coverage for all plans
- No pre-existing condition clauses for children on all plans
- Plan cannot cancel coverage if you get sick
- All new plans will include preventative care coverage
- $250 rebate for Medicare recipients who fall into the “donut hole”
- Extension of dependant coverage until age 26 on all plans
2011
- Medicare recipients in the “donut hole” will receive a 50% discount on brand name drugs
- Medicare beneficiaries gain access to a comprehensive health risk assessment and creation of a personalized prevention plan
- Medicare and Medicaid beneficiaries are provided incentives to complete behavior modification programs
2013
- Families with an annual income above $250,000 will be required to pay an additional 3.8% tax on investment income and contribute more to the Medicare program from payroll taxes
2014
- Most Americans will be required to have insurance coverage or face a federal penalty
- The fine for not having insurance would start at $95 per person up to $285 per family, or 1% of taxable household income, whichever is greater
- By 2016, the penalty would be $695 for each family member up to $2,085, or 2.5% of taxable income
- Subsidies would be available for families based on income to purchase insurance through the new exchanges
- Medicaid will be expanded in all states to cover low income adults
- Insurance companies will be prohibited from refusing to sell policies based on health status
- No pre-existing condition exclusions for adults
- No annual limits on coverage
- Insurers can only vary premiums based on a limited set of factors
